THE MANUAL CLAIMS PROCESSING segment of the medical billing operation includes a
ton of lengthy activity that requires approximately 77 days of processing time.
And if the claim is rejected it can take up to six months before the doctor receives
payment. Receiving payment is of vital importance to physicians --- just as it is
to any other businessperson. By helping to speed up payment to the doctor, you and
your services will be in HIGH demand! This is a vital and valuable service. Here’s
how manual billing takes place:
|
National Average: 30% of all paper claims filed with insurance carriers are rejected.
Of this percentage, a majority of claims are not reprocessed for payment, resulting
in loss of payment to doctors for actual treatment of patients.
|
Most Healthcare providers focus primarily on providing medical services to their
patients. And that’s how it should be, of course. But as a result, the necessary
related administrative functions such as claims billing are often neglected or performed
in a less than timely manner. Time and budget constraints --- as well as lack of
expertise and inefficiency --- contribute to the problem. Doctors often rely on
managerial specialists to help meet the demands of medical billing, processing patient
statements, general bookkeeping and more.
These staff members, unfortunately, do a very poor job. That’s bad for the doctor.
But it’s good for you! Why? Simply put, it gives you a client for your electronic
medical billing & claims processing business. You can do the job more efficiently,
more quickly and more professionally. You will put money in the doctor’s pocket
quicker and cut down on mistakes that cost the doctor.
Improper filing causes a high percentage of rejected claims and delayed payments
to providers. Rejected and re-processed claims directly impact the cash flow position
of any medical practice. These denied claims generally require extensive follow-up
and resubmitted claims prior to actual payment by the carrier. Medical claims billing
is greatly facilitated through the use of an electronic claims processing system
because an ECP: (1) keeps track of each carrier's specific requirements, (2) significantly
reduces the rejection percentage, and (3) greatly accelerates the payment turnaround
time.
Office managers or their designees dedicate a major portion of their time to manually
processing claims. What a waste! And what an opportunity to YOU!! Insurance claims
are submitted to governmental agencies, health organizations and various private
insurance carriers which have very specific requirements and regulations. Medical
claims processing requires industry specific knowledge on the part of the person
who prepares the claim forms. This is especially true because of the ever- changing
requirements imposed by insurance companies and government agencies. Unfortunately,
most medical office personnel are inexperienced in claims processing and accounting
which, in addition to knowledge, requires accuracy, attention to detail, and timeliness.
So again, this OPENS DOORS TO YOU.
Manually processed paper claims result in very slow payment to the medical practice.
These claims can average up to 10 weeks in processing while the average processing
time for electronically submitted claims is approximately 48 hours!
Can you see how this horrible situation can be a great opportunity for you? It is
a problem waiting for a solution. AND YOU HAVE THE SOLUTION IF YOU BECOME A PART
OF THE CLAIMTEK TEAM!